The prices of oil went up on a agitated day on Monday, while investors analyzed the impact of The new sanctions from the United States to Iranian exports in front of the conversations to end the war in Ukrainewhich could increase the supply of Russian crude to world markets.
Within that framework, the Brent crude rose 1.2% au $ S72.43 the barrel. The American crude West Texas Intermediate won 1.3%, AU $ S69.16.
Oil: What news impact on its price today
“The crude continues in a limited range, since the operators continue to weigh the impact of the new US tariffs, The risk of an economic deceleration, as well as the increase in the offer of the OPEC+ from next month and the perspective that the increase in US sanctions reduces the offer of IrraN, “said Ole Hansen, head of the Saxo Bank raw materials strategy.
Both referentials closed up on Friday and registered A second consecutive weekly gainsince the new sanctions from the United States to Iran and the last production plan of the OPEC+ producers increased the expectations of a more adjusted offer.
United States against Iranian oil exports
On Thursday, the United States issued New sanctions aimed at hitting Iranian oil exportsincluding those that, according to the State Department, were the first US measures aimed at a Chinese refinery that processes crude.
“Some analysts estimate that sanctions could cause The market withdrawal of up to one million barrels per day Production, although this is likely to be compensated for the increase in OPEC production, “said Ashley Kelty of Panmure Liberum.
Meanwhile, American and Russian officials were in Saudi Arabia on Monday to negotiate A high general fire in Ukrainewith Washington also pointing at a high sea fire in the black Sea separately while negotiating a broader agreement.
Last week, the group of oil producers OPEC+ public A new calendar for seven member countries to make new cuts in oil production To compensate for pumping above the agreed levels, which will far exceed the monthly production increases that will be introduced next month.
OPEC+ cut the production at 5.85 million barrels per daywhich is equivalent to about 5.7% of the world supply, in a series of measures from 2022 to support the market.
The comments of the president of the United States, Donald Trump, also gave merchants certain hope that the tariffs announced in early April are not as onerous as he was feared. Trump pointed out on Friday that there will be flexibility in tariffs and that his main commercial head plans to speak with his Chinese counterpart.
Source: Ambito
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